Wednesday, June 24, 2015
City of Greenville receives $2.1 Million for Neighborhood Initiative Program
The Neighborhood Initiative Program (NIP) is designed to stabilize property values and prevent future foreclosures for existing property owners in strategically targeted areas through the removal of blighted structures.
NIP will assist communities by acting as a catalyst to stimulate redevelopment and revitalization in areas suffering from blight and decline, stabilizing values and assisting in the the preservation of existing neighborhoods. NIP is a joint venture of the South Carolina State Housing Finance and Development Authority and the SC Housing Corp. (SCHC), a not-for-profit corporation. NIP is made possible by the U.S. Department of the Treasury.
113 Mt Eustis ST
The Neighborhood Initiative Program aims to acquire and restore the property through grading and seeding.
The City of Greenville, along with seven partnering non-profit organizations, was awarded $2,146,767 in NIP funding. The seven partnering non-profit organizations will acquire properties containing vacant and blighted structures, demolish all structures on the property and restore the property through grading and seeding. Properties must be located in one of the City of Greenville's Special Emphasis Neighborhoods. The maximum amount of funding allowed for each property is $35,000, including all acquisition, demolition and restoration costs. Properties acquired through this program will be redeveloped for affordable and workforce housing opportunities. All funds must be spent by June 30, 2017.
For more information or if you are interested in selling your property, please contact Michael Williamson, Community Development Division, at 864-467-4570.
For more information on Project Activities and Budgets click here.